JOEL - As far as I can tell the two terms seem to be used somewhat interchangeably, as evident in these statements from The First Presidency of the Church;

"Moses wrote the history of the creation, and we believe that he had the inspiration of the Almighty resting upon him. The Prophets who wrote after him were likewise endowed with the Spirit of revelation"
And President Wilford Woodruff said, "This Church has never been led a day except by revelation. And He will never leave it. It matters not who lives or who dies, or who is called to lead this Church, they have got to lead it by inspiration of Almighty God" (Messages of the First Presidency 2:232, 235)

But I do believe there can be a difference made between the two.
Knowledge and understanding of the teachings and mysteries of God come to us by way of personal revelation through the Holy Ghost. In our church callings, revelation helps us to understand the duties of our callings and the reasons why we do what we do. It can give us answers to questions and problems that might come up in the course of fulfilling our callings.
Personal inspiration is similar to revelation but implies action. We are compeled to perform acts of righteousness through inspiration from the Holy Ghost as explained in the following scripture:
"every thing which inviteth and enticeth to do good, and to love God, and to serve him, is inspired of God" (Moro. 7:13).
For example, through revelation we understand and learn the duties of being a home teacher or visiting teacher; but inspiration from the Holy Ghost tells us that one of our families needs help and compels us to go and help them.